N🟁N

HIGH LINER FOODS REPORTS STRONG FIRST QUARTER RESULTS AND ANNOUNCES SECOND DIVIDEND INCREASE FOR THE YEAR

  //house-home.news-articles.net/content/2011/05/1 .. unces-second-dividend-increase-for-the-year.html
  Published in House and Home on Tuesday, May 17th 2011 at 7:25 GMT by Market Wire
          ^{🞛 This publication is a summary or evaluation of another publication}

 - Sales increased by 7.3% to $177.1 million - Sales volume increased by 11.8% to 57.0 million pounds - Adjusted EBITDA(1) increased by 23.1% to $18.1 million, or 10.2% of sales - Net income increased by 25.3% to $9.7 million, or diluted earnings per share ("EPS") of $0.63, from $7.8 million, or diluted EPS of $0.42 - Completed the integration of Viking Seafoods, Inc. on April 4, 2011. 

 ------------------------------------------------------------------------- (in thousands except Thirteen weeks Thirteen weeks per share amounts ended ended unless otherwise noted) April 2, 2011 April 3, 2010 ------------------------------------------------------------------------- Sales in million pounds 57.0 51.0 ------------------------------------------------------------------------- Sales in domestic currency $178,833 $161,528 Foreign exchange impact $(1,725) $3,585 ------------------------------------------------------------------------- Sales in Canadian dollars $177,108 $165,113 Adjusted EBITDA(1) $18,139 $14,730 Net income $9,729 $7,763 Adjusted net income(2) $9,894 $7,763 Average Shares Outstanding (Diluted) 15,423 18,404 EPS (Diluted) $0.63 $0.42 Adjusted EPS (Diluted)(3) $0.64 $0.42 

 ------------------------ (1) Adjusted EBITDA is earnings before interest, taxes, depreciation and amortization, excluding business acquisition, integration costs and gains/losses on asset disposals, as included in the consolidated statements of income. (2) Adjusted net income is net income excluding business acquisition, integration, and gains/losses on asset disposals, net of income tax. (3) Adjusted EPS is Adjusted net income, as defined, divided by the average diluted number of shares.